Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Claim is not fanciful

01 June 2010
Issue: 4257 / Categories: Tax cases , Inheritance Tax
Vinton and others v Fladgate Fielder (a firm) and another, Chancery Division

The Dugan-Chapman family owned a company WAL Ltd in which shares were held by the late Mr Dugan-Chapman’s executors and his widow the testatrix.

The widow was the sole surviving director and had an outstanding loan of £30 000 from the company.

On the advice of the first defendant solicitor firm the claimants agreed that the loan would be converted into shares to attract business property relief to reduce their future liability to inheritance tax.

However following the death of the widow it was found that business property relief was not available on most of the shares as they had not been held for two years and were not identifiable with other shares which had been held for two years.

The claimants’ appealed to the Special Commissioners but were unsuccessful.

They then commenced proceedings against the...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
back to top icon